Ahead of the Curve by K33

Bitcoin has shed much of its speculative leverage, but a durable recovery still needs buyers. Today’s U.S. inflation release puts the macro backdrop in focus as weak trading activity and exchange-traded product outflows weigh on demand. We examine what cautious futures and options positioning means for liquidation risk, assess Strategy’s preferred-share funding model against a simpler alternative, and explain why government Bitcoin transfers to Coinbase Prime do not establish an immediate sale. The episode draws on K33 Research’s October 13 report, updated with October 14 inflation figures, with producer prices the next scheduled checkpoint.

Read the full research at https://k33.com/research.